Unilever hit by emerging market slowdown

The latest figures from Unilever indicate the Anglo-Dutch consumer goods giant has hit by a slowdown in emerging markets. The companys underlying sales growth during Q3 climbed 3.2%, while turnover fell 6.5% to €12.5bn. Sales growth for the first nine months of the year, meanwhile, climbed 4.4% while turnover fell 2%.

Commenting on the results, Paul Polman, CEO, said: "Underlying sales growth of 4.4% over the first nine months is ahead of our markets. Emerging markets continue to be the main driver of our growth and, despite the current slowdown, they remain a significant growth opportunity which the company is well-placed to capitalise on. We have not yet seen an improvement in market conditions in North America or Europe”.

The impact of emerging markets aside, the companys personal care business continued to deliver healthy volume-led growth during the quarter. The hair category performed well following the roll out of TRESemme into new markets such as India and Indonesia as well as the launch of Toni & Guy into the US retail channel.

Skin and body care, meanwhile, benefited from the launch of the new Vaseline body lotion sprays in Europe while new launches in Dove Men+Care continued to drive growth. Finally, deodorants growth was driven by Dove in both the male and female ranges.